Jio Platforms raises record ₹30,213 crore, bankers earn just 0.65% fee

Jio Platforms raised ₹30,213 crore in its IPO, the biggest public offering in India’s history. The telecom firm paid ₹196 crore in fees to its investment bankers, a charge that works out to 0.65% of the total issue size. By comparison, Hyundai Motor India’s recent IPO brought in ₹27,859 crore but the carmaker paid ₹493 crore in fees, equivalent to 1.77% of its raise. The stark gap shows that Jio’s bankers earned far less per rupee raised than those handling Hyundai’s deal. Both offerings have drawn attention to how fee structures vary across sectors and underwriters. Analysts note that lower fees can reflect strong market demand, efficient book‑building, or negotiated terms favoring the issuer. Jio’s IPO was backed by Mukesh Ambani, whose Reliance group holds a controlling stake in the platform. The differing fee percentages highlight how issuers can influence the cost of capital through the choice of advisors and the perceived risk of the offering. ## Context In India, IPO underwriting fees typically range between one and two percent of the capital raised, so Jio’s 0.65% fee sits at the low end of the usual band.